EUR/USD And USD/CAD Forecast : Sep 22, 2020
Jason Sen | Sep 22, 2020 06:37AM ET
EUR/USD retests last week’s low at 1.1740/35. A bounce from here in the sideways trend targets 1.1770/80 with resistance at 1.1800/10. On further gains, try shorts at the best selling opportunity at 1.1830/40 with stops above 1.1855.
A break below 1.1725 targets 1.1690/80. A break below here is the next sell signal targeting 1.1640/30 and probably 1.1595/85. I would not be surprised to see a test of very strong support at 1.1495/75.
USD/CAD higher at last after a longer than expected wait, during last week’s frustrating sideways consolidation. We beat minor resistance at 1.3245/55 initially targeting 1.3310/20 (hit yesterday). An excellent selling opportunity at 1.3375/95 if we continue higher, with stops above 1.3425.
The downside is expected to be limited at this stage, with first support at 1.3275/65. A break below 1.3245 risks a slide to a buying opportunity at 1.3190/80, with stops below 1.3150.
h3 Trends/h3- Weekly Outlook Neutral
- Daily Outlook Neutral
- Short Term Outlook Neutral
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